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Originally posted by elevatedone
First, correct, they should not be rude to you.
Now, let's see, you're upset because you signed a loan agreement / contract to pay back so much money at a certain amount per month at a certain interest rate.
For whatever reason, now you want the bank to lower the amount you are to pay back.
Why should they? You signed, you have to pay.
To say that you're walking away is just wrong. You agreed to the terms, so keep making your payments and keep up your end of the deal.
Originally posted by vox2442
OP -
I suggest going after your car loan provider next, based on the fact that your car's market value started to nosedive as soon as you left the dealership.
Perhaps the credit card companies should be next, because your new patio furniture, jeans, groceries and the dinner you had at the restaurant last night have all undergone a similar depreciation in value.
If you do, please record the phone conversation and post it to youtube. Love to hear that...
Originally posted by nikiano
Like I said, I've never defaulted on a loan before in my life, and I never will again. I always pay off my car loans early...I always pay off my credit card bill every month....I never carry the balance over, unless I run into an emergency.
But a 30 year mortgage is VASTLY different than a 5 year car loan. The amount of interest you pay on a house loan is ASTRONOMICAL compared to a car loan.
Originally posted by vox2442
...and the amount of interest you pay on your credit card is astronomical compared to your mortgage.
Originally posted by brocket99
reply to post by Robbi
This should be a reward system to allow homeowners who remain current to take a top priority so they dont end up walking away due to the massive losses on their homes, due to speculative buyers or the subprime loan situation.
They are not doing this, but it is what they should be.
Originally posted by spannera
Is it just me or am i right in my impression that banks now employ salespeople as tellers. At one time they employed people for there ethics and honesty. If you pay commissions as inducements you encourage dishonesty. Its like a green light to be greedy and short term gain! What sort of example does this set? The whole world of finance encourages and rewards greed.
Originally posted by elevatedone
yeah, God forbid you actually keep your word and pay as you promised.
[edit on 8-9-2009 by elevatedone]
Originally posted by nikiano
reply to post by SpiritoftheNightSky
I know. The funny thing is that my original loan was not with B of A...it was with countrywide. Then, B of A bought them out.
I had a bad experience with B of A doing some fraudulent things to me a long time ago, and I also took my money out of their bank and went somewhere else, vowing never to go back to them again.
Little did I know that my home loan would be sold to them...